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At the end of the lease period, the business may purchase the equipment for its fair market value or a fixed or predetermined amount (could be as little as $1.00), continue leasing that equipment, lease new equipment or return the equipment to the lease company. A lease contract can include most types of equipment and also more than one item. Because the lease is tailored to the business it could include items from more than one source on each contract, such as remodeling or additions to the premises. Leasing can usually cover soft cost like delivery, installation and training services. Our equipment does have a serial number so it can be listed and identified as a collateral.
Leasing is appropriate for any business at any stage of development. For start up businesses with no revenues yet, smaller equipment leases ($100,000.00 or less) are feasible on the personal credit of the founders or owners - provided they are willing to make the scheduled payments. Contracts can be structured so as to adapt to almost any individual situation, such as length of the lease term and possibly skip payment terms during slow business periods. Cost for leasing is generally more expensive than bank financing, but in most instances it is more easily obtained.
CED Manufacturing Co., does not have an in-house leasing program. However, we do work with several different leasing companies and upon your request, can have one of these companies contact you or submit the names of the companies to you for you to contact. Some of these lease companies will provide services throughout the United States, Canada and Mexico. If you do not have a favorite lease company to deal with, contact us and we will get something started for you.
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